Los Angeles economic growth outpacing the United States

The greater Los Angeles area is keeping pace with the nation's improving economy and even doing a bit better in some cases, according to some local experts.

For example, while the nation saw 1.4 percent job growth over the past year, Los Angeles County saw 1.8 percent. And new car sales in California far outpaced the nation's gains.

"I think what we're seeing is an increase in overall consumer optimism. They are feeling better about their personal situation and a little more optimistic about next year," said Jackie Fernandez, retail sector leader in Los Angeles for the consulting firm Deloitte.

That's a turnaround from this time last year, when consumers were pessimistic about what 2012 would bring.

Los Angeles County's economy added 66,100 jobs between September 2011 and September 2012 to achieve that 1.8 percent growth rate, according to the California Employment Development Department.

"We're finally seeing that the L.A. labor market is gaining steam, and it's fairly broad-based," said Robert Kleinhenz, chief economist at the Kyser Center for Economic Research at the Los Angeles County Economic Development Corp. "The private sector economy is moving forward."

The county's unemployment rate also made a big move down in September to 10.6 percent from 12.4 percent a year ago. The national rate is 7.8 percent. The October rate for L.A. will be released later this month, while the latest national figures come out Friday morning.

Car sales have also rebounded.

Statewide during the third quarter, sales of new cars and light trucks soared 34 percent from a year ago, according to the California New Car Dealers Association. It was the 14th consecutive quarterly increase.

And for the full year, sales are up 26 percent versus 14.5 percent for the nation, the association said.

Nationwide, new-car sales rose 7 percent from a year earlier, and most major carmakers reported gains. Numbers for the state were not available.

Some, but not all, small-business owners are also seeing the turnaround.

On Thursday afternoon, when Bill Ron calculated his Redondo Beach bicycle shop's sales for October, he came to a notable conclusion.

"My month of October was better, sales-wise, than my entire third quarter," said the owner of Bill Ron's Bicycles.

"October was good. October was normal."

Actually, October was far from an amazing month for selling and repairing bikes. The difference was that the third quarter was miserable, he explained.

The past six years have been the slowest he has seen since the former aerospace engineer opened his shop in 1988. But Ron finally sees a light at the end of the tunnel.

"I think it's going to be more on the upswing," he said.

Cynthia Blackledge, who runs a cake supplies store in downtown Torrance, was less optimistic. The former bank employee has been struggling since opening Sprinkles `N' Stuff a month ago.

"It's been dead. Today, I have had no one walk into the store," Blackledge said. "They said that the people are out there shopping and I'm, like, `Where are they shopping at?"'

However, a few minutes after complaining about the lack of business, two prospective customers strolled through her door.